InterDigital (NASDAQ:IDCC) Rating Increased to Buy at StockNews.com

InterDigital (NASDAQ:IDCC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Trading Up 0.3 %

NASDAQ:IDCC opened at $155.86 on Tuesday. InterDigital has a one year low of $74.65 and a one year high of $156.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $3.93 billion, a P/E ratio of 22.92, a P/E/G ratio of 0.94 and a beta of 1.39. The firm has a 50-day simple moving average of $138.46 and a 200-day simple moving average of $121.05.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. Equities analysts anticipate that InterDigital will post 9.04 EPS for the current fiscal year.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of InterDigital

Several large investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the second quarter worth $29,000. Riverview Trust Co purchased a new stake in InterDigital during the first quarter worth $31,000. GAMMA Investing LLC boosted its holdings in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in InterDigital during the first quarter worth $64,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.